Team-BHP - Automobile Insurance Queries? Ask me

Quote:

Originally Posted by carzealot (Post 3319591)

Can you please check with Tata guys about the own damage(O.D discount). I assume it is 20-25%. See if they can give you 35%. In case not then please go ahead with them. Tata has faster claim settlement process as compared to l&t

Hi,

Could you clarify on which OD amount is discount calculated? Is it including add ons or excluding it? And is each and every discount (NCB, anti theft, profession) calculated on the OD amount?

I don't remember but i believe the quote of Rs 12,450 was after NCB and Anti theft discount. So is there any room for further discount?

sidkeenlearner: A comprehensive insurance or First Party Insurance(desi lingo) comprises of three parts own damage, Personal Accident coverage(2Lacs) for owner who was also the driver during mishap(if any) and Third Party premium. NCB is your right in case there was no claim in the previous year/s. However, just to attract business or retain customer Insurance company gives discount on own damage premium which is deciding factor of the total premium you will end up paying. Higher the OD discount lower the premium. So you should push as much as you can for a higher OD discount.

Quote:

Originally Posted by carzealot (Post 3319210)

Where is your previous policy from? Any specific issue from present insurer? Have you made claims in previous years? City you are based? SBIGI primarily gets it's business from cars they finance so do check for their cashless tie up in the city you reside.

Thanks for the reply...Existing policy is from HDFC Ergo. No issue from the insurer as of now. Only thing is that they are quoting around 5.8K higher than SBI . Currently i am based in Bangalore. I was bit worried on cashless facility only ... Anyone already having SBI insurance please let me know their feedback also.

Quote:

Originally Posted by inder (Post 3322931)

I have shifted from comprehensive to third party insurance for my 10yr old santro from Insurer A to insurer B. Can I ask for NCB certificate from insurer A ?

Yes, you write to Insurer A with a copy of the TP insurance issued by B. You can entice him to give the NCB Certificate and promise that you will return when you get the new car. The NCB Certificate will be valid for 2 years from the date of issue.

Best Regards & Drive Safe

Ram

IDV of 54 Lakhs. NCB 65%.
I have a quote of 75k from Tata AIG for Pearl Plan(Depreciations reimbursement). Is this rate good enough?

What other options do I have? I usually stick with Tata AIG as claims are easier to pass.

I think this policy allows upto 2 claims per year.

Quote:

Originally Posted by chakri400 (Post 3326362)

Anyone heard about L&T insurance. My car insurance renewal is due. I have TATA AIG policy now. TATA AIG and HDFc ergo are quoting 1500-2000 more than L&T keeping everything else same.

L&T is a new player in motor Insurance, hence there is no history of their service, claim reimbursement record etc. The lower premium is to garner business. If they have a cashless tie up with your workshop then it will be worth trying or else stick to the big guns only.

Quote:

Originally Posted by Sahil (Post 3326377)

IDV of 54 Lakhs. NCB 65%.
What other options do I have? I usually stick with Tata AIG as claims are easier to pass.

65% NCB I am hearing for the first time:Shockked:. The max NCB you can get on any car is 50% only. Please elaborate on the NCB %.

Since you have already experienced Tata AIG and are happy with the service provided, why move to someone else. BTW what car do you own?

Quote:

Originally Posted by ghodlur (Post 3326387)

I have 65% NCB only because it was transferred from an old policy. Past few years the max NCB is 50%. Hence I ensure that I take a plan that has NCB protection as I will never be able to get 65% again. I have more than 4 policies that are 65% NCB currently running :D

I own an Audi RS5. I am not looking to move to another insurance company but would like to compare rates.

Also my agent said that if I claim during this new policy period my NCB will be protected however if I renew policy again and claim the year after I will loose NCB. This makes no sense, I have asked them to double check. Any truth in this matter?

Quote:

Originally Posted by Sahil (Post 3326395)

Oh you are using the Sunset clause. Good for you. The answer to the question you asked in mentioned below. Any claim in the policy year will nullify such a high NCB. For that matter wouldnt Gold plan suit you more instead of Pearl, afterall the sole intention is to save the NCB:D

Quote:

Sunset Clause: If at the renewal falling due any time between 1st July 2002 and 30th June 2003, both days inclusive, (after completion of the full policy period of 12 months) an insured becomes entitled to an NCB of 55% or 65% in terms of the Tariff prevailing prior to 1st July 2002, the entitlement of such higher percentage of NCB will remain protected for all subsequent renewals till a claim arises under the policy, in which case the NCB will revert to „Nil‟ at the next renewal. Thereafter, NCB if any earned, will be in terms of the above table.

Quote:

Originally Posted by ghodlur (Post 3326405)

I have opted for NCB protection add-on in my insurance policy all these years hence I have been able to retain it for over a decade. Hence I dont see why I should loose NCB if I have an NCB protection+Zero Dep.

Pearl Plan = Gold Plan + Depreciation Reimbursement.
Rate for NCB protection are 50% higher

My car got rear-ended by a Volvo recently. The damages are to the rear bumper, rear windshield, rear hatch and both the driver side doors. The total repair estimate with replacement of all the door panels is around Rs. 1 Lakh. Now the IDV of my car is about 64K so the insurance company is declaring total loss.
My question is it possible to go for a combination of repairing + tinkering (not panel replacement) and claim that from the insurance company. Also what would be advisable in this case, take the IDV from total loss or repair the car and try to sell it later. Note that the car is a 11.5 year old Santro. Any suggestions greatly appreciated.